Bankwest Low Rate Business Mastercard
Easily manage your business expenses and save with a low purchase interest rate with the Bankwest Low Rate Business Mastercard.
You can increase your business’ cash flow and easily manage your employee spending with the Bankwest Low Rate Business Mastercard.
Interest free period
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|Product Name||Bankwest Low Rate Business Mastercard|
|Purchase rate||11.99% p.a.|
|Interest-free period||55 days|
|Cash advance rate||11.99% p.a.|
|Min credit limit||$2,000|
|Max credit limit||$50,000|
|Foreign currency conversion fee||2.95%|
|Available to temporary residents||No|
- A low rate of 11.99% p.a. on purchases, cash advances and balance transfers
- Flexible credit limits between $2,000 and $50,000
- Charges a 2.95% foreign transaction fee
|Minimum monthly repayment||2% of the closing balance or $20, whichever is greater|
|Late payment fee||$35|
|Foreign currency conversion fee||2.95%|
|Cash advance fee||2% or $4, whichever is greater|
|Overseas cash advance fee||2% or $4, whichever is greater|
|Overseas ATM withdrawal fee||$0|
|Additional cardholder fee||$0|
|Number of additional cardholders||3|
Sally McMullen is a creative content producer at Finder, co-hosts our Pocket Money podcast and wrote about credit cards for almost five years. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone. She has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.
How to applyYou can apply for the Bankwest Low Rate Business Mastercard online. If you're applying for a credit card limit higher than $25,000, you'll need to contact Bankwest on 137 000 to apply. Before you apply, check if you meet the eligibility criteria and have the necessary documents to complete the application.
- Residency. You must be an Australian permanent resident.
- Credit history. You must have a good credit history, meet Bankwest lending criteria and not have an overdue debt with the Australian Tax Office.
- Age. Applicants must be 18 years of age or older.
- Proof of identity. You'll need to verify your identity with ID such as your driver's licence, Medicare card or passport if you're a new Bankwest customer.
- Finances. Details of your financial information, including income, assets, expenses and liabilities.
- Additional cardholders. Any additional cardholders' names and email addresses.
- Low interest rates. An interest rate of 11.99% p.a. applies to purchases, cash advances and balance transfers.
- Interest-free days. After the introductory period, and for purchases only, there are up to 55 interest-free days. These can only be taken advantage of when the account has been paid in full for the current and preceding statement period. Interest-free days will not apply to balance transfers or cash advances.
- Additional cardholders. You are permitted to have up to 3 additional cards with your account for no charge. Your monthly statement will contain detailed information for each card held on the account.
- Contactless mobile payments. You can link your Bankwest card with Google Pay and use your smartphone or other eligible device to tap and pay.
Rates & fees
- Annual fee. This card charges a $99 p.a. annual fee.
- Foreign transactions. When you make a foreign transaction overseas or shopping online with an international retailer, you will be charged 2.95% of the Australian dollar amount.
- Liability. Although it's a business credit card, the primary cardholder takes personal liability for all transactions made with the account.
- Credit limit. You can apply for credit limits ranging between $2,000 to $50,000.
- Repayments. You're required to make a minimum repayment of the greater of $20 or 2% of the total balance each month.